Shiba Inu (SHIB) hit an all-time high in October and is up more than 153,000,000% since its 52-week low on November 28, 2020, while the meme coin has lost about half of its value, showing how quickly the tide may be turning when it comes to cryptoassets backed by hype.
While some investors may see this as a buying opportunity, it is wise to tread carefully as the chances of the Shiba Inu making an encore are slim to say the least.
In addition, there are more than 7,500 other cryptocurrencies and many moren appear to be significantly better investments in the long term. A stronger case can be made for newcomer Budblockz (BLUNT).
The SHIB rally
What started as a scam quickly grew into a revolutionary cryptocurrency project. Shiba Inu (SHIB) is a meme coin, created in August 2020 by Ryoshi, a computer programmer who ran an experiment in community management for the use of cryptocurrency.
Launched on the Ethereum blockchain, the Shiba Inu (SHIB) token enables smart contract functionality. This makes Shiba Inu more scalable than Dogecoin as it facilitates the creation and development of dApps and other tokens without the need for a blockchain fork. Programmers and developers could copy and paste their code into the new blockchain instead of creating it from scratch.
Elon Musk’s tweets support Fresh Rally in $SHIB🚀
Let’s make more noise that way @elonmusk hear you! ❤️ Smash LIKE and ReTweet♻️
— Shiba Inu (@ShibainuCoin) 18 October 2021
In March 2021, Tesla and SpaceX CEO Elon Musk tweeted that he wanted a Shiba Inu puppy. Due to Elon Musk’s involvement and commitment to the Dogecoin project, the internet saw this as a call and a signal to buy into the project early. This resulted in a 300% increase in the price of the SHIB token.
The Rise of BudBlockz (BLUNT)
BudBlockz (BLUNT) has only been on sale for a little over a month, but has already attracted interest from experienced crypto investors who trust its unique value proposition.
BudBlockz is developing an investment protocol, decentralized e-commercedigital commerce and an NFT marketplace that enables consumers to invest in the growing cannabis industry.
This one-time use is expected to drive the price of BudBlockz token $BLUNT to the moon. The BudBlockz developers take all the right steps to create a platform that stands out from the rest.
BudBlockz The Crypto Cannabis Premier 🍁🪙
Check out Euroweekly’s latest article looking at how BudBlockz has set out to bridge the gap between the cannabis industry and cryptocurrency 🍁🪙💨🎯https://t.co/noeBC0wqbA
— BudBlockz🍁 (@budblockz) 2 November 2022
The platform’s smart contract passed an audit by Solidity Finance and Solid Proof, proving that BudBlockz is a safe investment. BudBlockz (BLUNT) has raised more than $1 million in pre-sales and continues to raise funds.
Early investors praise the potential shown by this cannabis token. They seem to hold BLUNT for a long time to achieve a 100x return in early 2023.
Offers that match your criteria…
Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.